Bank of America Cuts Wingstop (NASDAQ:WING) Price Target to $234.00

Wingstop (NASDAQ:WING) had its price target reduced by analysts at Bank of America from $264.00 to $234.00 in a research note issued to investors on Wednesday,MarketScreener reports. Bank of America‘s price target would suggest a potential upside of 55.57% from the company’s previous close.

WING has been the subject of several other research reports. Royal Bank Of Canada lowered their target price on shares of Wingstop from $250.00 to $225.00 and set an “outperform” rating for the company in a report on Tuesday. UBS Group lowered their price objective on shares of Wingstop from $210.00 to $160.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 9th. The Goldman Sachs Group cut shares of Wingstop from a “buy” rating to a “neutral” rating and dropped their target price for the company from $290.00 to $190.00 in a research note on Thursday, April 30th. TD Cowen reissued a “hold” rating and set a $160.00 target price on shares of Wingstop in a research report on Thursday, June 4th. Finally, Barclays lowered their price target on shares of Wingstop from $330.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $260.89.

Wingstop Price Performance

WING opened at $150.41 on Wednesday. Wingstop has a fifty-two week low of $116.35 and a fifty-two week high of $381.45. The firm has a market capitalization of $4.10 billion, a PE ratio of 37.42, a P/E/G ratio of 1.75 and a beta of 1.82. The company’s 50-day moving average is $155.57 and its 200 day moving average is $207.44.

Wingstop (NASDAQ:WING) last announced its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.16. The business had revenue of $183.72 million during the quarter, compared to the consensus estimate of $187.82 million. Wingstop had a negative return on equity of 16.22% and a net margin of 15.77%.Wingstop’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.99 earnings per share. As a group, analysts expect that Wingstop will post 4.59 EPS for the current year.

Institutional Trading of Wingstop

Several institutional investors and hedge funds have recently made changes to their positions in the stock. SBI Securities Co. Ltd. lifted its position in Wingstop by 76.9% in the 4th quarter. SBI Securities Co. Ltd. now owns 138 shares of the restaurant operator’s stock worth $33,000 after buying an additional 60 shares during the last quarter. Rakuten Securities Inc. increased its holdings in Wingstop by 197.9% during the 4th quarter. Rakuten Securities Inc. now owns 143 shares of the restaurant operator’s stock valued at $34,000 after purchasing an additional 95 shares during the period. GW&K Investment Management LLC grew its position in shares of Wingstop by 75.7% in the 4th quarter. GW&K Investment Management LLC now owns 188 shares of the restaurant operator’s stock worth $45,000 after buying an additional 81 shares during the last quarter. Pinnacle Holdings LLC purchased a new position in shares of Wingstop during the third quarter valued at approximately $47,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Wingstop by 121.4% during the first quarter. Geneos Wealth Management Inc. now owns 217 shares of the restaurant operator’s stock valued at $49,000 after acquiring an additional 119 shares in the last quarter.

About Wingstop

Wingstop Inc (NASDAQ: WING) is a fast-casual restaurant chain specializing in chicken wings and related menu items. Founded in 1994 in Garland, Texas, the company has built its brand around bold, chef-inspired wing flavors and a streamlined service model that caters to dine-in, takeout, delivery and catering orders.

The company’s core offerings include both bone-in and boneless chicken wings tossed in a variety of proprietary rubs and sauces, such as Original Hot, Lemon Pepper, and Mango Habanero.